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June 2011
Affecting all

Besides pension funds, individual investors also need to be aware of the imminent changes to Regulation 28 of the Pension Funds Act, as the changes are likely to have a significant impact on the way they save and invest their hard-earned...

June 2011
Smart money

Meanwhile, there is a hint that pension funds may be looking to allocate further assets toward offshore investments.  The offshore allocation for retirement fund assets was previously capped at 20%. But recent changes to prudential...

June 2011
Learn to trust equities…

The size of the local Collective Investment Schemes (CIS) industry is rapidly approaching the R1-trillion mark, with assets under management having grown to R949-billion by the end of March this year.

The figures released by...

June 2011
Suffer the consequences

The introduction of the Consumer Protection Act seems to have caught a lot of companies napping. There is no grace period, yet there is plenty of evidence to indicate that few suppliers of goods and services have adequately trained their...

June 2011
Amendment benefit

Short-term insurance policyholders now enjoy extra protection under the law following an amendment to the Policyholder Protection Rules in terms of the Short-term Insurance Act.

The amendments now require insurers to decide...

June 2011
Suplliers beware

The Consumer Protection Act will affect the form and content of all consumer agreements with individuals and small businesses. Suppliers, manufacturers and retailers will need to review the provisions of the Act applicable to them to ensure...

June 2011
Not a closet index

The size of South Africa’s total listed-company universe means that local stock market indices are dominated by a handful of large companies. As a result, many local asset managers with broad equity mandates may be forced to hold certain...

June 2011
Jolly brolly

Santam says it has launched a new campaign to take account of, what it calls, “a cluttered messaging environment around short-term insurance” and which is intended to position the company as the “unambiguous leader in the segment, not only in...

June 2011
Avoid the multiple

In his State of the Union address in January this year, US President Obama noted that for the US to “win the future” it needs to “out-innovate, out-educate and out-build the rest of the world.” This notion implies that the countries of the...

June 2011
The gateway to Africa

In April, South Africa officially joined the BRIC group of emerging economies. BRIC stands for Brazil, Russia, India and China, and is a trading bloc that has established itself as a growing global economic power over the past decade. It is...

June 2011
Using a digital watermark

South African companies that regularly distribute emails should consider using “digital signatures” to authenticate their communications.

Cordell Brewer, marketing director of TouchBasePro, notes that incidences of phishing are...

June 2011
Amendments to the act

In 2009 a grace period was introduced in terms of the 1962 Income Tax Act, which allowed for a primary residence owned by a company, close corporation or trust, to be transferred to the relevant individuals without incurring capital gains...

June 2011
Turn the other cheek

The trouble with us, says Eckhart Tolle, is that we think too much. After all, it didn’t do Hamlet any good. Of course, if Tolle wasn’t thinking he would not have written his book, The Power of Now, first published in 1999. So what is he on...

June 2011
Act now…

The introduction of the revised Companies Act has sparked off a sharp increase in the appetite among listed and private companies for Directors’ & Officers’ Liability Insurance covers.

“D&O” has always been a...

June 2011
Service response

The high growth South African security industry already employs more than 300 000 people in over 5 000 companies, and has not surprisingly attracted the interest of a specialist in liability insurance designed specifically for that sector...

June 2011
The short and the long of it…

The Financial Services Board (FSB) published the requirements for all key individuals and representatives to complete the regulatory examinations (RE). These are based on the roles and categories and sub-categories of financial products for...

June 2011
Market watch

The South Africa Market Watch, published by Alexander Forbes, recently recorded the views of CEOs and MDs from leading South African insurers on the insurance market, current issues and likely future developments.

Ian Kirk MD...

June 2011
Not real

The concept of “realisation companies” has become fairly established in South African tax law. A realisation company (or trust) is one established in order to realise a capital asset to best advantage. The proceeds from such realisation are...

June 2011
Company oversight

Despite the financial, legal and administration costs associated with illness, injury or even death abroad, a surprisingly low percentage of South African companies take out corporate travel insurance, exposing thousands of business people...

June 2011
A comprehensive jargon buster

If the terminology in your long-term life insurance policy contract has left you confused, help is at hand. The Association for Savings and Investment South Africa (ASISA) maintains a comprehensive jargon buster on its web site, designed to...

June 2011
Group advice

The impact of HIV/AIDS not only affects those infected by the disease. It also places a significant strain on the work environment through increased group risk costs and increased employee absenteeism. However, by taking a pro-active...

June 2011
Outcomes on the way

The Financial Services Board (FSB) recently published the long awaited Treating Customers Fairly (TCF) Roadmap. This contains the regulatory approach and seeks to ensure the following specific outcomes:

• TCF fairness outcomes...

June 2011
Full reward

A pension fund has been rapped on the knuckles by the Pension Funds Adjudicator for not paying out a withdrawal benefit as it stood when notice of withdrawal was given instead of the fund credit at the actual time of disinvestment....